Release Date: 2021/06/01
SinoPac leads the its fishery-electricity symbiosis syndicated loan and completes the contract with NT$3.025 billion
- Bank Bank SinoPac, a subsidiary of SinoPac Financial Holdings (TWSE stock symbol: 2890), has coordinated and led its first syndicated loan project for a “fishery-electricity symbiosis” solar power plant with a total amount of NT$3.025 billion. It officially signed a joint credit agreement with TaiYang Solar Power.
- The funds are invested to build a 50 MW (megawatt; one million watts) greenhouse technical aquaculture power plant in Yizhu Township, Chiayi County. Currently the largest fishery-electricity symbiosis power plant, this fishery-electricity demonstration project site follows the promotion policy of the government and achieves diversified land use. It not only solves the aquaculture dilemmas fishermen encountered in extreme climates and optimizes the aquaculture environments but creates a new economic model of combining aquaculture fishery and green energy power generation. It is expected to start power generation formally in the fourth quarter of 2021 and create a win-win situation between fishery and green energy.
- Min-Fu Chuang, general manager of Bank SinoPac, said that Bank SinoPac had stepped into the field of green finance since 2012 and assisted Taiwanese companies to follow the global trend of 100% renewable electricity (RE 100). The types of power plants it financed included the roof type, the ground type, the water surface type, and others. To expand its scope of green financial services, it initiated a syndicated loan project for large-scale water-surface-type and ground-Wtype solar power plants in 2019. So far, the installed capacity of SinoPac’s financing cooperation had reached approximately 0.75 of a nuclear power plant.
- Kuei-Kuang Chen, chairman of Sunny Rich Group, said that related innovative patents combining solar energy and non-toxic greenhouse technical aquaculture could provide fishermen with the best weather-resistant and cold-resistant aquaculture environments. With the support of Bank SinoPac, Sunny Rich endeavored to develop fishing village reconstruction in Budai Township and Yizhu Township with Chiayi County, local governments, and 9 financial businesses. The cooperation would completely upgrade the common traditional field aquaculture to a special greenhouse technical aquaculture area. Securing fishermen’s livelihoods and businesses, it would also attract young people to return to their hometowns for development and thus achieve win-win results when fulfilling corporate social responsibilities.
- Min-Fu Chuang said that Bank SinoPac led this project as the mandated lead arranger and invited 9 banks to co-invest it. They are Taiwan Cooperative Bank, International Bills, First Bank, O-Bank, Shin Kong Bank, EnTie Bank, China Bills, Bank of Shanghai, and Taiwan Business Bank.
A fishery-electricity symbiosis solar power plant located in Yizhu Township, Chiayi County (Photo provided by TaiYang Solar Power)
